BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION

3 Months Ended

Mar. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION

NOTE 22. BAKER HUGHES SUMMARIZED FINANCIAL INFORMATION

We account for our remaining interest in Baker Hughes (comprising 377.4 million shares and a promissory note receivable) at fair value. At March 31, 2020, the fair value of our interest in Baker Hughes was $4,083 million. Since the date of deconsolidation, we have not sold any shares of Baker Hughes and recognized an unrealized loss of $5,710 million ($4,631 million after-tax) for the three months ended March 31, 2020 based on a share price of $10.50. See Notes 2 and 3 for further information.

Summarized financial information of Baker Hughes is as follows.

For the three months ended March 31, 2020 (In millions)
Revenues	$	5,425
Gross profit	755
Net income (loss)	(16,098		)
Net income (loss) attributable to the entity	(10,210		)

Baker Hughes is a SEC registrant with separate filing requirements, and its financial information can be obtained from www.sec.gov or www.bakerhughes.com.